Brazilian producer Samarco reported a net loss of $544.3 million for the third quarter of 2026, nearly half the $1.045 billion loss recorded a year earlier. The company said production reached its highest quarterly level since operations resumed.
Pellet output rose 27% to 3.7 million metric tons, while sales increased 20% to 3.2 million metric tons. The average realized price climbed 6% to $117.7 per metric ton. Net sales revenue rose 2% to $450.3 million, and production costs fell 11% to $240 million. Gross profit, however, declined 6% to $210.3 million.
Indemnification payments related to the 2015 Fundão dam collapse totaled $461.1 million and were the main driver of financial expenses. Samarco posted an operating loss of $246.3 million, compared with an operating profit of $168.2 million a year earlier.
Samarco is continuing its Phase 3 project, which aims to restore full production capacity of 30 million metric tons per year.
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